US consumers bear new price increase

By Associated Press

Jun 12, 2021 12:47 am

WASHINGTON, D.C.: American consumers absorbed another surge in prices in May - a 0.6-percent increase over April and 5 percent over the past year, the biggest 12-month inflation spike since 2008.

The May rise in consumer prices that the Labor Department reported on Thursday (Friday in Manila) reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy.

ABSORBING ANOTHER BLOW Patrons are assisted while dining along a sidewalk on Franklin Street in Chapel Hill, North Carolina on April 16, 2021. AP PHOTO

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